India welcomes US support for intellectual property waiver for Covid-19 vaccines
The move will support increased production of vaccines across the world
India has welcomed the US government’s announcement’s support to New Delhi-Cape Town’s proposal in the WTO for a relaxation in the norms of the agreement on trade related intellectual property rights (TRIPS) for a quick and affordable access to vaccine and medicines for developing countries.
“We welcome the statement of the US government of 5th May announcing their support for this initiative. We are hopeful that with a consensus based approach, the waiver can be approved quickly at the WTO,” the Ministry of External Affairs said in a statement on Thursday.
“The waiver is an important step for enabling rapid scaling up of manufacture and timely availability of affordable Covid 19 vaccines and essential medical products,” the MEA added.
During his recent phone call on 26 April 2021 with US President Joe Biden, Prime Minister Modi informed him about India’s initiative at the WTO which was aimed at the benefit of humanity.
On October 2, 2020, India and South Africa, in view of the global health crisis and the need to combat the Covid 19 pandemic, proposed in the WTO a relaxation in the norms of the agreement on TRIPS, to ensure quick and affordable access to vaccines and medicines for developing countries.
As a result of proactive outreach by India and other like-minded countries, the proposal has received the support of more than 120 countries.